NACFB members now able to source legal services

September 25, 2014 tags: News

The National Association of Commercial Finance Brokers “NACFB” represents over 1,000 commercial finance brokerages which are responsible for raising billions of pounds worth of commercial lending including mortgages, asset finance and cashflow funding for UK based SME’s.

Cotswold Barristers and Litigation Warranty are delighted to have been approved by NACFB as their most recently appointed member services providers.

It is inevitable that clients of NACFB members will, from time to time, share their legal problems with their brokers in the hope of receiving useful advice without incurring the exorbitant costs of solicitors. Most NACFB members help where they can but until now have usually referred clients’ to local solicitors. A potentially far more effective solution now exists for all concerned.

Legal issues experienced by NACFB member clients will range from personal matters such as divorce and probate to business related issues such as contractual disputes and being victims of business fraud.

Litigation Warranty is well placed to help NACFB members to help these clients by saving them money and organising the highest levels of professional advice and advocacy, whilst building their own businesses at the same time.

Our specialist Barristers operate on a Direct Access basis, in other words they can take instructions from NACFB members directly without the involvement of a solicitor, thus saving an expensive and unnecessary level of cost. As of January 2014, the Bar Standards Board introduced a new qualification for barristers which enabled them to go ‘on record’ with the Courts for conducting litigation, thus creating the potential to negate the requirement for solicitors’ involvement in civil litigation completely.

NACFB members who have joined forces with Litigation Warranty are able to upload files on behalf of their clients for a specialist barrister to consider.  A triage system is used to ensure that cases are referred to the most appropriate specialist barrister. An initial Skype or telephone conference with Counsel is then organised at no charge (typically up to 30 minutes). Written opinions can be provided for fixed price of £500 plus VAT, including a face to face meeting between Counsel and Client where necessary.

All work conducted by our barristers is priced on a fixed fee basis and Counsels written opinion will always include a fixed fee quote for dealing with the matter to conclusion. Our barristers also operate on a CFA or discounted CFA basis where appropriate in civil matters.

An aspect of law which appears not to have been common knowledge amongst NACFB members is that the fees of Counsel are funded by the state for private criminal prosecutions, regardless of whether or not the accused is convicted. Counsel are able to issue proceedings within weeks, even without Police involvement.  This can be a very cost effective way to pursue ‘rogue traders’, given that any protection of limited liability status is removed and that personal assets can be seized and disposed of to raise cash to make recompense to their victims if they are found guilty. The Evening Standard recently reported that in 2013/14, in London alone, 81,631 frauds were reported to the Police. Of these, only 758 were deemed “solvable” by the City of London Police run National Fraud Intelligence Bureau and only 177 cases were passed to the Met to investigate. Just nine were prosecuted. Ninety five cases were still being investigated at the time of the report.

The NACFB members we are already working with have found that membership of Litigation Warranty has significantly enhanced goodwill amongst their client base.

Litigation Warranty

Direct Public Access Barristers with Fixed Fees